Redwood Capital Management, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Redwood Capital Management, LLC reported 13 stock positions worth $503.6 million. Its top holding was Aercap (AER) at 40.3% of the portfolio, followed by Echostar Class A (ECHO, 29.2%) and Loma Negra Cia Ind-Spon ADR (LOMA, 4.6%). Compared with Q2 2024, it opened 1 new position, sold out of 2, added to 1 and reduced 2. The biggest buy was United States Steel (X, shares +104%) and the biggest sale Loma Negra Cia Ind-Spon ADR (LOMA, shares −36%).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001316622
Portfolio Value
$503.6M (Q3 2024)
SEC Filing
0000919574-24-006573 ↗ filed Nov 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $531.9M Q1 2024 Q2 2024: $465.2M Q2 2024 Q3 2024: $503.6M $503.6M Q3 2024 Q4 2024: $524.3M Q4 2024 Q1 2025: $585.8M Q1 2025 Q2 2025: $488.1M Q2 2025 Q3 2025: $899.4M Q3 2025 Q4 2025: $753.5M Q4 2025 Q1 2026: $589.9M Q1 2026 Q2 2026: $921.5M Q2 2026

Holdings 13 stocks · $503.6M
AER Aercap Holdings NV 40.29% 2,142,023 $202.9M No change
ECHO Echostar Corp. Class A 29.16% 5,915,934 $146.8M No change
LOMA Loma Negra Cia Ind-Spon ADR 4.63% 2,895,296 $23.3M Reduce -35.5%
X United States Steel Corp. 4.30% 612,500 $21.6M Add +104.2%
CCL Carnival Corp. 4.13% 1,124,260 $20.8M No change
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC 4.00% 8,189,270 $20.1M No change
APEI American Public Education 3.69% 1,260,979 $18.6M Reduce -10.1%
MSC Studio City Internationa-ADR 3.41% 3,268,921 $17.2M No change
CZR Caesars Entertainment Inc. 2.65% 320,000 $13.4M No change
MERC Mercer International Inc. 2.30% 1,712,725 $11.6M No change
NBIS Nebius Group NV 0.71% 387,585 $3.6M No change
CBL CBL & Associates Properties 0.59% 117,613 $3.0M No change
EHTH Ehealth Inc. 0.14% 175,405 $716K New
Other holdings (2): bonds, preferreds, convertibles and warrants · $153.0M (not counted above)
SecurityClassShares / PrincipalValueChange
DISH NETWORK CORP (DISH 0 12/15/25) NOTE 12/1 · principal 108,722,000$94.3MNo change
DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal 72,298,000$58.7MNo change

Total filed on the 13F, all lines: $656.6M.

Portfolio Sells Q2 2024 → Q3 2024
LOMA Loma Negra Cia Ind-Spon ADR Reduce -35.5% 4.63% −1.89
APEI American Public Education Reduce -10.1% 3.69% −1.60
TEO Telecom Argentina SA-SP ADR Sold out 0.00% −0.53
OPITQ Office Properties Income Tru Sold out 0.00% −0.21

Portfolio Buys Q2 2024 → Q3 2024
X United States Steel Corp. Add +104.2% 4.30% +1.86
EHTH Ehealth Inc. New 0.14% +0.14

Notes & Other Activity Q2 2024 → Q3 2024
UPSTART HOLDINGS INC (UPST 0.25 08/15/26) NOTE 0.250% 8/1 · principal Sold out 76,456,000 $59.5Mbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 24$921.5MVSAT, ECHO, GBTG, MBC, OPI
Q1 2026 21$589.9MECHO, GBTG, AER, TDS, MOH
Q4 2025 16$753.5MECHO, AER, GBTG, TDS, ELV
Q3 2025 16$899.4MECHO, GBTG, AER, TDS, OPTU
Q2 2025 10$488.1MECHO, AER, TDS, APEI, OPTU
Q1 2025 12$585.8MAER, ECHO, X, APEI, TDS
Q4 2024 11$524.3MAER, ECHO, X, APEI, OPTU
Q3 2024 13$503.6MAER, ECHO, LOMA, X, CCL
Q2 2024 14$465.2MAER, ECHO, LOMA, APEI, CCL
Q1 2024 17$531.9MAER, ECHO, ALLY, LOMA, DOLE